From today, the in-work tax credit (IWTC) is available to eligible families who are not receiving an income-tested benefit or student allowance and have some income from paid work each week. This change removes the requirement for working families to work a minimum number of hours. Previously sole parents must have worked a minimum of …
Wage Subsidy Extension Amendment
Wage Subsidy Extension Qualification Has Changed- Announced Today (5th June 2020) Last week we sent you an email letting you know about the availability of a COVID-19 Wage Subsidy Extension. Today, the Government announced a change in criteria. Previously, to qualify you must have experienced a minimum 50% decline in revenue in the 30 days before you apply, when …
Wage Subsidy Extension Announced
The wage subsidy extension payment will be available to support employers, including sole traders who are still significantly impacted by Covid-19 after the current wage subsidy ends. The weekly rates will be the same as under the current wage subsidy, and will provide an 8-week lump sum payment per named employee. The wage subsidy extension …
Small Business Cash Flow Loan Scheme
Applications for the Small Business Cash Flow Loan Scheme close on the 12th of June. The Small Business Cash Flow Loan Scheme has been introduced to support businesses and organisations struggling because of loss of actual or predicted revenue as a result of Covid-19. Government will provide one-off loans to small businesses, including sole traders …
Budget Highlights
Wellbeing Budget 2020: Rebuilding Together Budget 2020 formally establishes the $50 million Covid-19 Response and Recovery Fund. Nothing that $13.9 million has already been committed, Minister Robertson has announced a further $15.9 million in funding, which includes: A targeted extension of the Wage Subsidy Scheme The extension is available for a further eight-week period (ie …
Business Recovery Planning
During times of adversity we are often forced to think outside the box - to reinvent the way we work or behave, We see four main opportunities for you to reinvent your business. The need to innovate The first opportunity to reinvent is to innovate. The Oxford Dictionary defines innovation as 'the introduction of new …
Covid-19 Government & Banks Support Update
Just announced today: Government to provide $100,000 interest-free loans to businesses The Government will provide interest-free loans of up to $100,000 to small businesses grappling with the impacts of Covid-19, after banks failed to meet the Government's expectations. The loans are available for a year and will be offered to businesses with 50 or fewer …
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The value of cashflow forecasting during a crisis
During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard …
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Eight C’s to help your business during Covid-19
The information overload is real. The ramifications of Covid-19 on businesses are being felt and speculated upon every minute of each day - probably leaving you feeling like a rabbit caught in the headlights. Here’s eight simple words also beginning with C to help clarify your vision. 1. Cash.It’s the oxygen for your business, do …
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Business Continuity and Recovery Planning
These are unprecedented times for businesses and their people. It is the time that businesses should be reviewing their business plans and forecasts to ensure they can get through this stormy period we are currently in. Not only should business plans be reviewed but business continuity planning should be undertaken to develop a plan to …
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